March 29, 2020
Flare Gas Recovery System

Flare Gas Recovery System Market | Business Opportunities and Trends

The global market for flare gas recovery system was valued at US$ 1,438.8 million in 2016 and is expected to reach US$ 4,219.8 million by 2025, increasing to CAGR by 12.9 per cent from 2017 to 2025.

Global flare gas recovery system market is projected to gain momentum with an increasing inclination of the end-use industry to reduce H2S flare, reduce smoking of flare gas, minimize fuel costs by using flare gas as fuel and comply with regulatory requirements resulting in the adoption of flare gas recovery systems. Rising environmental concerns about the emission of greenhouse gasses that influencing governments to adopt strict regulations on the emission of flare gases. In addition, increased production of natural gas and non-conventional shale gas is projected to fuel demand during the forecast period.

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North America is projected to be the most dominant market in global flare gas recovery system. Wide adoption of flare gas recovery systems due to strict greenhouse gas emission regulations and increased production of shale gas is expected to drive demand for the flare gas recovery system in the region. Following this, Europe is expected to be the second-largest market in the global market for the flare gas recovery system. However, the market in Europe has matured and is expected to lose its market share by 2025. Latin America and the Asia Pacific have seen significant growth over the forecast period (2017-2025) due to the growth of end-use industries in the region.

Large and very large capacity flare gas recovery system segments accounts for major revenue share in the global flare gas recovery system market in 2016. The growth of the segment is augmented by the growing inclination of end-use industries to use flare gas as fuel and also to achieve low carbon emission. Global flare gas market is expected to witness shift from small and medium flare gas recovery systems. Thus, small and medium-size flare gas recovery system are anticipated to lose their market share to large and very large capacity flare gas recovery system segment by 2025.

By Component, compressor segment is anticipated to maintain its dominance during the forecast period. Growing popularity of the liquid ring compressors is anticipated to drive the growth of the segment. The segment is project to gain significant market share by 2025.

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Considering the competition, the global flare gas recovery system market has witnessed a significant rise in strategic mergers and collaborations among flare gas recovery system vendors. Such growth strategies are focused at augmenting their product portfolio or increase their market penetration in key manufacturing and oil producing countries.

Based on the capacity, the global flare gas recovery system market is segmented as follows:

  • Small
  • Medium          
  • Large
  • Very Large

Based on the component, the global flare gas recovery system market is segmented as follows:

  • Compressors
  • Heat Exchangers      
  • Gaskets
  • Separators

For the purpose of this study, the global flare gas recovery system market is categorized into:

  • North America
  • Europe
  • Asia Pacific    
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

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David Brown

David Brown

Experienced Market Research Analyst with a demonstrated history of working in the market research industry. Skilled in Secondary Market Research, Primary Market Research, Client Interfacing. - Identify, collect and organize data for use in research projects - Provide fundamental analysis for research projects - Review data to ensure its quality and integrity - Market estimates and forecast based on homegrown forecasting models - Identifying potential titles for syndicated research projects - Analyzing, estimating and forecasting various industry/market using various analysis tools and forecasting models - Conducting secondary research - Company profiling and analyzing competitive landscape - Report writing And Quality check

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